ADB – Asian Development Outlook, Apr 2024

The Asian Development Outlook for April 2024 predicts that developing Asia will maintain strong growth this year despite uncertainties. Factors such as the end of interest rate hikes in many economies and a rebound in goods exports, particularly in semiconductor demand, are contributing to a positive outlook. India's investment-led growth is expected to make it a key economic player in the region. Policymakers need to be vigilant of risks such as escalating conflicts, geopolitical tensions, US monetary policy uncertainty, property market stress in China, and adverse weather effects. To promote resilience, efforts should be made to improve trade, cross-border investment, and commodity supply networks.